Guangdong has launched a new industrial development fund worth 50 billion yuan to drive innovation and foster new growth opportunities. During the signing ceremony held on the 22nd, representatives from 12 financial institutions, leading industry players, and investment partners finalized the first round of cooperative projects. Among these, the creation of the world's largest semiconductor display industry park marks a significant milestone in Guangdong's industrial strategy.
This initiative aims to provide strong support for industrial restructuring and upgrading across the province. The newly established Guangdong Provincial Industrial Development Fund is designed as a policy-driven venture capital fund, aligned with the provincial government’s strategic priorities. It represents a key move to implement the spirit of the 19th Party Congress, deepen reforms in industrial financing, promote industrial transformation, optimize the economic structure, and cultivate new growth drivers.
Tu Gaokun, director of the Provincial Economic and Credit Commission, emphasized that the fund's primary goal is to accelerate industrial transformation, optimize the industrial structure, and revitalize the real economy. It also aims to guide and stimulate more social capital toward service sector development, helping to build a modern economic system in Guangdong.
The fund was formed by integrating several existing funds, including the Guangdong Pearl Riverfront Advanced Equipment Manufacturing Industry Development Fund, the Guangdong 21st Century Maritime Silk Road Fund, the Guangdong Medium and Small Enterprise Development Fund, and the IC Industry Development Fund. With a total size of 50 billion yuan, 10 billion yuan comes from the government, while the rest will be sourced from financial institutions, industrial capital, and local funds.
Major banks like ICBC, Ping An Bank, CCB, and Bank of China have already committed capital, and many other investors are showing interest. The fund will focus on sectors such as 4K TV, 5G communications, smart manufacturing, and investments along the "Belt and Road" initiative. It will also support state-owned enterprise reforms, military-civilian integration, and foreign investment, aiming to strengthen Guangdong's position as a leading manufacturing province.
The fund operates under the principle of "distribution first, then return," ensuring that the government's initial investment sees at least a 50% return upon withdrawal. This mechanism highlights the "fiscal dividend" aspect of the fund.
TCL Group's China Star Optoelectronics project is one of the first major investments. Through this project, TCL plans to establish the world's largest semiconductor display industry park, which the fund will support to enhance the entire display industry chain in Guangdong.
Additionally, the fund is reserving key projects such as giant wheel robots and the Yangjiang Wind Farm, and will collaborate with investment firms like Shenzhen Innovation Investment Co., Ltd. to pursue mergers and acquisitions in advanced manufacturing sectors.
Yuecai Holding’s officials stated that they will follow a structured approach—reserving batches, adjusting them, negotiating, and finalizing one by one—to ensure timely project implementation and quick deployment of the first batch of investments.
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